1 Paisa - Shah Alam II [Jayaji Rao]

Shah Alam II had been dead for over four decades by the time this coin began circulating. Gwalior's practice of retaining long-dead Mughal emperors as nominal issuing authorities on local coinage was political theater — the Scindia rulers maintained the fiction of Mughal suzerainty well past any practical meaning, partly to avoid drawing British scrutiny to their autonomous monetary arrangements.

Jayaji Rao Scindia, the actual power behind this issue, came to the Gwalior throne as a minor in 1843 following British intervention in the succession crisis. The paisa series running through this period shows considerable die inconsistency across the Lashkar mint.